The Charles Schwab Corporation (NYSE:SCHW) shares are trading lower after the company reported second-quarter 2024 results. Adjusted net income declined 2% Y/Y to $1.465 billion.
Adjusted EPS fell 3% Y/Y to $0.73, beating the consensus of $0.72.
Revenue rose 1% to $4.69 billion, beating the consensus of $4.68 billion. Asset management and administration fees rose 18% Y/Y to $1.38 billion.
The bank had $252.4 billion in deposits at the end of the second quarter of 2024, down 17% Y/Y.
Net interest revenue declined 6% Y/Y to $2.158 billion in the second quarter. Clients' daily average trades totaled 5.486 million, up 4% Y/Y.
In the second quarter of FY24, core net new assets grew 17% Y/Y to $61.2 billion, pushing the total client assets to $9.41 trillion at quarter-end.
The company's new brokerage accounts increased 4% Y/Y to 35.6 million.
Walt Bettinger, Co-Chairman and CEO, said, "Client interest in our broad array of wealth solutions remained strong through June. Year-to-date enrollments are up ~30% versus the prior year period and net flows into Managed Investing solutions reached $25 billion – an increase of 56% versus the first 6 months of 2023."
Investors can gain exposure to the stock via IShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSE:IAI) and Tidal ETF Trust God Bless America ETF (NYSE:YALL).
Also Read: Bank of America, Schwab, Morgan Stanley: What To Expect From Tuesday's Earnings
Price Action: SCHW shares are down 7.77% at $69.23 premarket at the last check Tuesday.
Photo via Shutterstock
嘉信理财公司(纽交所:SCHW)报告2024年第二季度业绩后股价下跌。调整后的净利润同比下降2% 至14.65亿元人民币。
调整后的每股收益同比下降3% 至0.73美元,超出预期0.72美元。
营业收入同比增长1% 至46.9亿元,超出预期46.8亿元。资产管理和行政费用同比增长18% 至13.8亿元。
该银行2024年第二季度末存款为2524亿美元,同比下降17%。
在第二季度中,净利息收入同比下降6% 至21.58亿元。客户日均交易量总计548.6万笔,同比增长4%。
2024财年第二季度,核心净新增资产同比增长17% 至612亿元,将总客户资产推动至9.41万亿元。
该公司新增的经纪账户同比增长4% 至3560万个。
共同主席兼首席执行官沃尔特·贝汀格表示:“客户对我们广泛的财富解决方案的兴趣在6月份仍然很强。自去年同期以来,今年迄今为止的注册增长约为30%,纳入托管投资解决方案的净流入达到250亿元 - 比2023年前6个月增长了56%。”
投资者可以通过美国银行经纪人和证券交易所ETF(NYSE:IAI)和Tidal ETF Trust God Bless America ETF(NYSE:YALL)获得股票投资机会。
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上次查看时,周二的SCHW股价为69.23美元,盘前下跌7.77%。
图片来自shutterstock。